Today’s News Synopsis:
How to get the best mortgage rates. Due to the record number of borrowers in forbearance, what would happen when this ends? The Mortgage Bankers Association reported mortgage applications decreased 3.9% from last week.
In The News:
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (6-3-2020)
“Mortgage applications decreased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 29, 2020.”
CNBC – “Military families face housing limbo during Covid-19 crisis” (6-3-2020)
“As states reopen across the nation, the Defense Department will immediately begin to lift “stop-movement” orders at some military bases in the U.S. and abroad.”
Mortgage Professional America – “What happens when forbearance ends?” (6-3-2020)
“While the mortgage market appears to be stabilizing from some initial shakiness due to the COVID-19 pandemic, one mortgage expert warns that more problems could lie ahead due to the record number of borrowers currently in forbearance.”
HousingWire – “Freddie Mac appoints new CFO as it prepares to exit conservatorship” (6-3-2020)
“Freddie Mac appointed Christian Lown as its executive vice president and chief financial officer, effective June 15, as the company prepares to exit conservatorship.”
NAHB – “The Future of Multifamily Design” (6-3-2020)
“The COVID-19 pandemic has forced residents to look at a number of their everyday experiences — including the way they live. In residences such as single-family homes or townhomes, residents may be looking to incorporate spaces such as home offices and exercise rooms to be able to remain productive while safely in place.”
Inman – “9 ways to turn a ‘no’ into a ‘yes'” (6-3-2020)
“Real estate is a problem-solving business. As an agent, being able to turn a ‘no’ into a ‘yes’ is a crucial skill to have under your belt. Here are 9 ways to do it.”
Realtor.com – “If COVID-19 Closed Your Pool or Gym, Can You Skip Paying HOA Fees?” (6-3-2020)
“Buying a home in a community with a homeowners association comes with many perks—such as a maintenance crew to take care of the lawn, gym, swimming pool, or other shared areas enjoyed by HOA members.”
Money – “A First for the Housing Market: Mortgage Rates Below 3%” (6-3-2020)
“It’s no secret mortgages are cheap right now. For some borrowers they’re hitting levels many experts might have thought impossible just a few months ago. Welcome to the world of the sub-3% mortgage.”
Hard Money Loan Closed
Baldwin Park, California hard money loan closed. Real estate investor received loan for $320,000 on this single family property appraised for $515,000.
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.
What is the biggest thing holding millennials back from becoming homeowners? Student loan debt. Fannie Mae and Freddie Mac announced today the completion of their new UMBS program. Although affordable housing was possible for both builders and buyers, there was still one problem.
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